The County Supervisors will vote in their January 14th meeting on the measure of changing the name of Ladera’s Stonebrier Lane to Cameron’s Way.
This seemingly non important vote however is a milestone in a heartfelt story of sorrow and recovery.
Cameron, a Ladera Ranch residence and son of Bohdanna and Dough Cook, was killed by a drunk driver on the 57 freeway on April 2nd, 2011, where he was rushed to the UCI Medical center. Doctors were unsuccessful in reviving him.
Tall and handsome, young and highly intelligent, Cameron was a UC –bound gifted athlete and scholar.
While the measure should pass with flying colors, we would like to extend our support for this measure to the parents of Cameron, as well as to the County Supervisors.
In an effort to keep Cameron’s memory alive and to mark the street naming occasion, Boh and Doug will host an impromptu gathering at their son’s new street with “red” balloons, Krispy Kreme donuts and pepperoni pizza for the community.
If you plan on moving in two to three years, think twice about investing money in home improvement projects that won’t increase the resale value of your home. In such a case, stay away from the following home improvements:
1. Gourmet Kitchen with high-end Accessories
Costly kitchen additions don’t pay off when you list your home for sale. In general, too much customization in a home turns buyers away.
2. Whirlpool Baths
Potential buyers will not pay extra for a newly installed whirlpool bath. In addition, the cost for installing a whirlpool tub can be prohibitive and raise energy bills.
3. Home Office Remodeling
The average home office renovation costs around $28,000, and you will receive about a 46% return on your investment for this pricey remodel.
4. Garage Additions
Homeowners who build a garage typically only see a 62% return on investment that costs tens of thousands of dollars. Not a good idea if you plan to sell soon.
5. Expensive Landscaping
Creating an over-the-top backyard paradise won’t add to your asking price. So, if you plan to sell your home in the next few years, you won’t recoup the cost of expensive landscaping in the sale.
Adjustable-rate mortgages, which all but vanished during the housing bust, are again gaining popularity. Home prices and interest rates rose last year, and adjustable mortgages can help keep the monthly payment affordable — at least temporarily. Such mortgages offer a lower initial rate, but that rate can rise over time with market changes.
More homeowners in Southern California were willing to take that risk last year. In November, 11.2% of homes bought with loans carried adjustable-rate mortgages, or ARMs. That’s double the rate of the same month a year earlier, according to San Diego-based research firm DataQuick.
With interest rates expected to rise this year, the proportion of ARMs could increase further.
“Generally, as rates increase ARMs become more popular,” said Guy D. Cecala, publisher of Inside Mortgage Finance.
Last week, lenders offered, on average, a 3% interest rate for a 5/1-year ARM — which means a borrower receives that rate for five years, before the loan starts to adjust annually with the market. That’s compared with 4.48% for a 30-year fixed loan, according to mortgage giant Freddie Mac.
Mortgage brokers say borrowers who plan to move after a few years, or those with considerable, but irregular, income could be well-suited for an ARM.
Largely gone are option ARMs and loans with very low “teaser” rates that quickly exploded into payments that borrowers couldn’t afford. Lenders during the bubble years also qualified borrowers based on teaser rates, increasing the likelihood of default.
New federal regulations taking effect this month should further curtail some of the riskier ARMs, including interest-only products and those with balloon payments.
Of course, rates could adjust downward in favorable market conditions. But ARMs are still riskier than fixed-rate loans — especially when rates remain at historical lows but are expected to rise.
Source: LA TIMES